Today while I was getting my taxes filed by an Armed Forces Benefit Nework Representative he told me about the Roth IRA program that they have. I have a TSP that I have been contributing to regularly to since joining the Marine Corps in 2004.
The TSP so far has not seen the growth that I would like to see (It hovers between 1-3%). The Roth IRA apparently is able to fetch 6% for the first year and a guaranteed 4% for the remainder of the life of the account.
My question is, would it be worth it to minimize contributions to the TSP and maximize contributions to the Roth IRA, or stay where I'm at?
I currently put 15% of every check into my TSP. Thanks for your time and advice!
Okay, thank you for your help. Would it be advisable to invest in another fund in TSP, such as the L2040, L2050 or one of the F, C, S or I funds? I'm looking for something with a long term, the only reason I'll touch the account is to put more money into it. Something with a moderate to aggressive approach is okay.
Yes, currently my Military career will hit 20 years at 2024 and hopefully I'll be able to roll right into another DoD/Govt job and get my second retirement out of the way by 2044. The L2040 sounds pretty good. Thank you for your help. I'm off to do some more research!